(Thinkstock Photos)As Flipkart settles down from the exuberance of its biggest capital-raise, it would have to hastily explore ways to regain momentum against its closest rival, Amazon India, reports Mugdha Variyar.

Flipkart’s market share, including that of its fashion unit Myntra, slipped to 38.5% in 2016-17 from 40% in 2014-15 in terms of gross sales or gross merchandise value (GMV), while Amazon India surged to 29% market share from 12%.

Overall, India’s ecommerce industry grew at a slower pace in 2016-17 as online marketplaces and retailers offered fewer discounts and instead began focusing on faster ways to profitability.